OptionLucky Review
| Broker | OptionLucky |
|---|---|
| US Traders Accepted | |
| Company Name | OptionLucky Ltd. |
| Regulation | No |
| Max Payout | 75% |
| Out-of-Money Reward | 10% |
| Trading Platform | SpotOption |
| Deposit Options | Credit/debit cards, wire transfer, CashU |
| Deposit Currencies | EUR, USD |
| Minimum Deposit | $200 |
| Minimum Trade | $100 |
| Maximum Trade | $1,000 |
| Online Since | 2011 |
| Trading Instruments | Forex, Commodities, Stocks, Indices |
| Number of Trading Instruments | 83 |
| Binary Option Types | Up & Down, Options Builder, One Touch |
| Customer Support Types | E-mail, telephone, on-line chat service (not working) |
| Education Offered | Video Tour (not working), How to Trade |
| Tools Offered | Expiry Rates, Daily Market Review, Weekly Market Review, Live Financial News |
| Commission | $25 fee for wire transfer withdrawals |
| Languages | English |
| Demo Account | No |
OptionLucky ceased operating as a binary option broker. It is out of business now. The review presented here is no longer applicable.
Binary options trading is quickly becoming a lucrative money-making opportunity and there are several small and big brokers in the market which one can choose for their trading purposes. However, choosing a broker can be a crucial decision for an investor and one must ensure that the broker is reliable and trustworthy for investing money. Among many available brokers, OptionLucky is one broker that investors should assess carefully before thinking to invest money with them. Online since 2011, the company OptionLucky Ltd has more than 80 financial instruments in their portfolio, but can be identified for their poor customer care and unreliability, and which may force any trader to think seriously before investing money with them. Besides they do not mention anything about their office locations, only you will find an Indonesian telephone number on their website. This raises concerns over their reliability. OptionLucky is not a regulated company either, and this could be another reason if a trader doubts their reliability.
OptionLucky relies heavily on their online existence, still fails to maintain online features like customer support through live chat, multiple language support, and bringing modern and advanced technical tools and analyses to the traders. However, they claim to offer a professional and intuitive trading platform to their clients. Interestingly, they do not reveal the name of the platform that they offer to their traders. Neither do they provide any demo account so that one can gain some familiarity about their trading platform. In such conditions, it’s doubtable if traders will be attracted towards them to open an account with them and start trading with them. They do not offer any mobile apps which a trader can use for his investment while on the move. They accept deposits in Euro and Dollars, and allow fund deposits via credit cards, wire transfer and CashU. They maintain a minimum amount of 200 Euros or 200 Dollars to open an account with them.
Reliability
As already mentioned, for any trader, the reliability of OptionLucky could be a big issue. Hardly anyone will be interested in depositing money with a company whose physical existence is not known. Moreover, their Online Chat Service is not functional and they do not reply to your emails as well. How anyone will be interested to initiate a business relationship with an unregulated company that hardly cares to answer to the emails of its prospective clients?
Trading Choices
Perhaps the only thing that may attract your attention is 83 financial assets that OptionLucky offers to their clients. This will certainly bring you a number of choices when it comes to choosing your assets and the market of your choice. They claim to offer you a payout between 68% and 75%, and this certainly could be a good earning potential, if you manage to guess the market movements of the assets in a precise manner. But if you fail to judge the market correctly and you lose your trade, OptionLucky offers you an out of money reward of 5%-10%. So, this is one better feature for which you can appreciate OptionLucky. If anyone finds OptionLucky a feasible investment broker, he or she can find their “One Touch” a good way of making up to 750% of maximum return. For traders willing to play safe, OptionLucky offers conventional binary options of Up & Down with a maximum return of 75%. An experienced trader may choose their “Option Builder” to pick the assets of their choice and customize the trade to optimize their profitability. When it comes to earning a bonus, again traders may get a little disappointed with OptionLucky, as they do not offer any Deposit Bonuses. They offer bonuses as promotional offers, which are limited time opportunities available to a trader from time to time. And if you manage to earn a bonus with them, you need to execute a minimum trading of 30 times of your earned bonus in order to withdraw it. So, you would hardly bother about earning a bonus with them, probably.
Technical Analysis
This could be another reason why a trader may think before starting a business relationship with OptionLucky. They offer Daily Market Review, Weekly Market Review and Live Financial News to their clients, which is certainly not enough to develop an in-depth market insight. High risks are associated with the binary options trading, and one needs to be more knowledgeable and insightful. Even more experienced traders prefer to consult historical data and charts in order to stay profitable in the binary options trading. OptionLucky also provides Expiry Rates that will prove very helpful in executing trades, especially for someone who wants to make big money using their One Touch trade feature.
Learning & Support
Again, it is a very poor zone where OptionLucky needs to work out very seriously. Their support feature is pathetic and learning needs drastic changes. They claim to include Video Tutorials on their site, but many of their videos do not work. Upon clicking you may get a message, “this video does not exist.” The only helpful feature is their “How to Trade” section on their website, and one can hardly learn everything about binary options trading by visiting this section on their website. So, any newbie trader will find this as a big issue to open an account with them.
Conclusion
Since reliability seems to be a big issue with OptionLucky, both experienced and newbie traders will prefer to choose any other more reliable broker than OptionLucky. The company is not regulated one, and they do not offer any demo account. They even do not disclose the name of their trading platform. In such conditions, hardly any trader will show his interest in joining them, especially when there are so many more reliable brokers available in the market.